Hive 50 Honors
For removing financial friction from working households’ path to homeownership and restoring agency to people on the rent-to-own trail.
What You Need To Know
HPA works to elevate the motivation, the financial wherewithal, and the personal efficacy of people at the household level. The program, over time, transforms people who would not qualify for a mortgage loan into ones who do. HPA has purchased over 12,000 homes in 40 metro markets and 20 states nationwide for a total investment of over $3.5 billion. More than 800 HPA resident households have exercised their “right to purchase” and have successfully purchased their home from HPA utilizing the lender of their choice. This equates to approximately 6.6% of total HPA purchases converting into homeownership. HPA has over 65,000 real estate agents nationwide registered in its network.
Who’s Involved
Former Goldman Sachs executive William J. Young is the chief executive officer, chairman and a founder of Home Partners of America. Real estate mogul Sam Zell and mortgage securities innovator Lewis Ranieri have served as investor/advisers. Home Partners has formed partnerships with Coldwell Banker, Century 21, ERA, and Better Homes and Gardens. These partnerships create an extensive network of real estate agents and brokerage firms to help reach a wider consumer base. Investors include BlackRock Private Equity Partners, Kohlberg Kravis Roberts, Range Light, and THL Credit.
Time Stamp
HPA launched in 2013, and by last year, had scaled its model to operate in 20 states and 40 metro markets nationwide. It has been evaluating expansion into markets including Phoenix, Las Vegas, and Boston.
